Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) Sees Large Drop in Short Interest

Addex Therapeutics Ltd. Sponsored ADR (NASDAQ:ADXN) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 4,133 shares, a decrease of 41.6% from the August 15th total of 7,083 shares. Based on an average daily volume of 656,208 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.4% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Addex Therapeutics in a report on Monday, July 6th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Addex Therapeutics Stock Performance

ADXN opened at $3.24 on Wednesday. The business’s fifty day moving average is $5.03 and its two-hundred day moving average is $6.03. The company has a market cap of $3.99 million, a price-to-earnings ratio of -0.55 and a beta of 1.47. Addex Therapeutics has a one year low of $3.10 and a one year high of $11.97.

Addex Therapeutics Company Profile

Addex Therapeutics SA is a clinical-stage biopharmaceutical company specializing in the discovery and development of small-molecule allosteric modulators for central nervous system disorders. Founded in 1999 and headquartered in Geneva, Switzerland, with a U.S. research presence in Cambridge, Massachusetts, the company focuses on targeting metabotropic glutamate (mGlu) receptors and GABAB receptors to address unmet medical needs in neurology and psychiatry.

The company’s lead candidate, dipraglurant (ADX48621), is an mGlu5 negative allosteric modulator in clinical development for levodopa-induced dyskinesia in Parkinson’s disease.